I just read Trump’s tax reform proposal. It is not perfect but it is light years ahead of the mess we have now. It helps very poor people, simplifies for middle class people and helps businesses that manufacture here in the USA. It also incentivizes companies to keep money here and not send it off shore for hiding.
It was a very brief proposal but it tells you the direction Trump wants to go in.
it’s so devoid of details and explaining how we don’t end up trillions more debt. how can anybody judge it for more than “give the people bread and circuses”
I no longer care about debt, it obviously means nothing to anyone but Libertarians. If no one else cares about it why should we? Only about 1% voted Libertarian so I guess debt is 99% irrelevant. 
So you like it because of who said it, don’t care what was said?
The proposal is just the framework of promises, so of course it sounds good.
Let’s see what actually comes up and go from there. The drops for small businesses and even corporations is nice to see, though. Is the CBO already reviewing this?
CBO can’t review it because right now it’s just a framework. It’s a solid framework but it will require the Republicans actually work together and build something on that frame which they haven’t had much luck with so far.
Ahh, okay. I thought this was just the public portion and there was something in the background done-ish and ready for review.
People are coming to all sorts of conclusions just based on this short proposal. Wonder when we’ll see the real thing.
This is no more “framework” than If I said I had a plan to make everybody in this thread a billionaire and stopped there while expect your support.
:roll2:
I mean, didn’t Trump want to cut the deficit? Everything I see him propose is more spending with some promise that on the future it will magically save money. The wall, healthcare, this…
No Dems complained under Obama: https://www.treasurydirect.gov/NP/debt/search?startMonth=01&startDay=20&startYear=2009&endMonth=01&endDay=20&endYear=2017
It actually went down under Trump, but coming back up again: https://www.treasurydirect.gov/NP/debt/search?startMonth=01&startDay=20&startYear=2017&endMonth=09&endDay=28&endYear=2017
This. I forgot what other topic I made this point on but people need to chill on praising or shitting on a proposal. It’s not a bill, it’s not a law. It’s not up for any vote yet. Most people fell asleep in school learning about the political process though so I’m not surprised at all the shit out there.
One thing is for sure, the Russell 2000 (small cap stocks) is crushing it right now. And if people with significant $kin in the small business game are pumped about this proposal that should tell you something.
Based on the current framework, my taxes are likely going up.
Eliminating the state and local tax deductions is going to hit a lot of upper middle income people.
CBO review is static not dynamic, so it’ll account for money being pulled out of the budget (tax cut) but can’t account for what that money is used for after being pulled out.
I’ll say that just doubling the standard deduction while eliminating the deduction for our outrageously high state taxes in NY would fuck me just skimming over my 2016 tax summary. Doubling the the standard deduction wouldn’t get me to the amount I deducted last year and I don’t think I could itemize enough to meet last year’s deductions without the NY tax deduction. I’m not worried though because I don’t see it ever passing with that deduction elimination included. I’ll get more concerned when this actually reaches the point where it’s a bill and there’s enough detail to properly look at it’s tax implications.
Fixed 
Again, this is only a proposal. But it’s a proposal that screws high tax blue states for sure.
My argument isn’t that we should take on debt. It’s that Trump ran on cutting it.
Did you mean debt or deficit?
Yep. Only maintains the mortgage interest deduction if you exceed 24k in itemized deductions. Won’t happen for most upper middle income folks without state and local taxes taken into account.
It’s a great for low to middle income.
Something like 75% of people don’t itemize anyway.
Just don’t blame Trump because NY sucks. lol If anything this will make people realize how much their Dem state is ripping them off.
Bottom line is business owners like this guy and that is what matters. The sand in the NFL’s crack means very little to the financial success of this country.